Cryptocurrency is being accepted as payment by an increasing number of businesses. Crypto.com acquired the naming brand rights to LAs former Staples Center, renaming it Crypto.com Arena.
Cryptocurrency is similar to traditional currency, but it is entirely digital. To put it another way, each dollar has a unique serial number. Consider Cryptocurrency to be just that number – minus the paper.
Crypto wallets, such as Coinbase or Blockchain, function similarly to your current bank account. However, you are the sole owner of the crypto wallet. Once you’re there, you can buy or invest in Bitcoin, Ethereum, Litecoin, and other cryptocurrencies.
There are numerous types of cryptocurrencies, and they are all volatile. That is why investment advisor Michael Masserant advises his older and even new clients to avoid significant crypto investments. He claims that just because Crypto.com purchased the franchise rights to the old Staples Center doesn’t mean it’s a sure thing.
Masserant revealed that just because it’s becoming more popular doesn’t mean it’s becoming more stable; it’s still volatile. However, it’s not quite as volatile as it was during the early years but it still could be extremely volatile
What About Using Cryptocurrency to Make A Purchase?
It’s being adopted by an increasing number of businesses, including AMC Theaters, Home Depot, Whole Foods, and Starbucks.
The tricky part is that many, such as Bakkt, require separate wallets. Download it, consider purchasing some Bitcoin, link it to the Starbucks app, and you’re ready to go.
Crypto payments aren’t yet commonplace, but the Michigan Legal Firm believes they will be soon.
They claim that they have been taking Cryptocurrency for almost 11 months now. They haven’t recovered completely, and they probably might accept any cryptocurrency in exchange for legal services yet,” Michigan Law Firm’s Josh Freedman said. “Back in the day, people used to issue personal checks, then credit and debit cards, and cryptocurrency appears to be the next step.”
Adam Zientarski works for EOS Detroit, which is compensated in Cryptocurrency for product development. He believes that regulation is on the horizon for the industry but that the next five years could be fascinating.
Zientarski confirmed that it was great news that there are several changes in this industry. However, it has become a bit difficult to find enough people to work on smart contracts. According to Zientarski, it is true that they can’t find enough people to work on business development and marketing. Therefore, if you want to venue into competitive industries like the tech industry, then Cryptocurrency is an easy avenue,”
Dil Bole Oberoi
